WT Asset Management Ltd Buys 497,623 Shares of Alibaba Group Holding Limited (NYSE:BABA)

WT Asset Management Ltd raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 364.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 634,200 shares of the specialty retailer’s stock after purchasing an additional 497,623 shares during the quarter. Alibaba Group accounts for approximately 5.9% of WT Asset Management Ltd’s portfolio, making the stock its 6th biggest holding. WT Asset Management Ltd’s holdings in Alibaba Group were worth $53,774,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after buying an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. grew its position in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares during the period. FMR LLC increased its stake in shares of Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after acquiring an additional 2,959,954 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

BABA has been the subject of several research analyst reports. Mizuho lifted their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Barclays dropped their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Citigroup raised their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Bank of America upped their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird lifted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Stock Performance

Shares of BABA opened at $102.37 on Wednesday. The stock has a 50 day moving average of $86.84 and a 200 day moving average of $89.07. The company has a market capitalization of $243.52 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 0.42 and a beta of 0.31. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $117.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.82 EPS. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.